Dispensing with the jargon of professional economists, Dwight Eisenhower last week issued an economic report to the nation that began bluntly with one of the biggest pieces of news since V-E day. "The paramount fact about the economy at midyear," he wrote, "is that the recent decline in economic activity has come to a halt." Two big specifics:
¶ While unemployment is higher than during the Korean war, it is on a par with comparable months of 1949 and 1950 and "has shown some tendency to diminish of late."
¶ Wage levels have continued to rise, while prices have virtually...
To continue reading:
or
Log-In
